Bucshon Releases Statement on President Biden’s First Veto to Prioritize Woke 401K Rule
Washington, March 20, 2023
WASHINGTON – U.S. Representative Larry Bucshon (R-Ind.-08) issued the following statement after President Biden used his presidential veto to prioritize his party's woke politics over retirees' returns:
“President Biden is jeopardizing the retirement security of all Hoosiers by vetoing the bipartisan legislation that would protect Americans’ retirement plans from irresponsible political interference. It is critical that Hoosiers can be certain that their retirement fund will be kept safe and not sacrificed for President Biden’s woke political agenda. This will be detrimental to Hoosier seniors, and all those currently saving for their retirement,” said Dr. Bucshon.
The legislation that was vetoed would overturn a rule issued by the Biden Administration’s Department of Labor that enables retirement fund managers to prioritize Environmental, Social and Governance (ESG) initiatives instead of financial returns when making investment decisions for Hoosier workers’ hard-earned savings – which is their fiduciary responsibility.